Poet,Interesting you said that the Acron EGM called by Brinds...

Poet,

Interesting you said that the Acron EGM called by Brinds ltd was acrimonious !!!!

Sydney Morning Herald Jan 20 1972

Sydney property developer Acron Holdings of Australia Ltd appears to have settled its internal disputes amicably and will go back to business with a reconstituted board of directors.

As forcast in the " Herald " a compromise has been reached and representatives of controlling shareholder Brinds Ltd have been appointed to the board .

Brinds a Sydney Investment company in the Boris Ganke stable had requisitioned an EGM for Jan 25 1972 ( now cancelled as no longer neccessary ) so that the Acron board could be changed.

There had been considerable dispute between Brinds Ltd and the former board .

Brinds representative Mr F.M.T Hetherton had been removed as a director at the AGM last month.

Acron yesterday announced a new board of six directors 3 from the old board and 3 from Brinds Ltd.

The Brinds men were Mr Hetherton Chairman, Mr Kulakowski and Mr lewis.

Brinds intens to make its interest in Acron a long term investment. Brinds also announced that it wants to rebuild Acron into a successful real estate company.

In the year 1970-71 Acron made a small profit of $3,198 and in the previous year it made a loss of $186,658

The canceled EGM saved shareholders a 97 mile trip to Bundanoon the venue chosen for the EGM by the prev board when Gankes Brinds Ltd called the meeting to remove them.

Very Interesting

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